In Panama the EIB and Naturgy Sign a $300 Million Loan to Modernize Electricity Grids
The European Investment Bank (EIB), through EIB Global, and Naturgy Energy Group, through its distribution companies EDEMET and EDECHI, signed a $300 million loan, guaranteed by Cesce, to modernize and expand electricity distribution networks in Panama. This is the largest EIB loan to a private company in Central America. The project will strengthen the reliability and efficiency of the electricity supply, facilitate the connection of new users, including low-income households, and enable greater integration of renewable energy. Furthermore, it will contribute to the EIB Group’s objectives in climate action and environmental sustainability, and is aligned with the European Union’s Global Gateway Investment Agenda.
The signing ceremony was attended by the President of the EIB, Nadia Calviño; the CEO of Naturgy, Francisco Reynés; and the President of Cesce, Pablo de Ramón-Laca , along with Panamanian authorities. Calviño emphasized that the alliance strengthens regional energy integration and access to cleaner energy, while Reynés underscored that the loan reflects Naturgy’s commitment to Panama, reinforcing its investments and contributing to a more efficient and sustainable energy model. Naturgy has invested over $500 million in Panama between 2022 and 2026 and plans to exceed $600 million between 2026 and 2030, with projects focused on modernization, loss reduction, and improved service quality. The company also operates four hydroelectric plants that provide clean, renewable energy, aligned with the COP30 objectives. This collaboration between the EIB, Naturgy and Cesce promotes the energy transition and strengthens the security of electricity supply in Panama, consolidating the country as a regional benchmark in sustainability and energy development.
